Meghan Markle and Prince Harry’s May 2018 wedding is expected to generate a lot more than just buzz and attention.
The royal spectacle of the year is expected to generate close to 500 million pounds for the United Kingdom, according to a Reuters estimate. (When the currency is exchanged, half a billion pounds amounts to $680 million.)
The couple, who is set to marry at St George’s Chapel at Windsor Castle, will be in the spotlight come May 19. According to Reuters, an extra 350,000 people visited the UK back in April 2011 around the time when Prince William married Kate Middleton. That statistic was comparable to April 2010, as recorded by the Office for National Statistics.
“We think approximately 200 million pounds will come from tourism, travel, hotels,” David Haigh, chief executive of business valuation company Brand Fiancee, told the outlet.
Much of the economy will also be bolstered by celebrations surrounding the event, which will also include the sale of commemorative items like shirts, mugs, hats and more.
Along with the aforementioned factors of economic boosting, Harry and Markle’s nuptials will bring in massive amounts of free advertising for the U.K. Haigh speculates that it’s close to 100 million pounds worth that the country would typically invest to get its tourism messaging out there.
Meanwhile, the royal family will be fronting all costs for the nuptials. Keep up with The Knot for all the latest regarding Prince Harry and Meghan Markle’s nuptials.